The tides are turning for memecoins, and PEPE is riding the wave. As Bitcoin maintains its upward trajectory, altcoins, including PEPE, are experiencing renewed investor interest. After breaking free from a bullish technical pattern, PEPE is exhibiting a consolidated upswing, marked by consecutive higher highs and lows. This suggests a potential for extended bullish action, but only if the bulls can maintain control and fuel the momentum with a surge in trading volume.
A Multi-Pronged Attack on Lost Ground
The PEPE team appears to be on a mission to reclaim lost territory and potentially reach new highs. The price action reveals a series of higher highs, hinting at an upcoming surge that could catapult PEPE over 40%. This fresh bullish wave might propel the price above the 1 Fibonacci retracement level (FIB), currently sitting at $0.00001054. While a recent pullback dragged the price below $0.00001, it seems to be a temporary consolidation phase.
Bullish Dominance and a Fading Bear Threat
Just days ago, PEPE hit a new all-time high of $0.00001156, followed by a correction. However, the bulls proved their resilience by stepping in at the opportune moment, suggesting another ATH is on the horizon. The question remains: when and at what price point?
Pi Network has gained massive attention within the cryptocurrency community. With its unique approach to mining directly from a phone and its potential as a legitimate payment project, Pi Network has accumulated a substantial following.
There are now 55 million active community members— a population size that beats many countries — including 10 million KYC‘d ‘Pioneers’ and 3.3 million Twitter followers.
If Twitter metrics alone were the important thing, it places the Pi Core Team account neck-and-neck with the Ethereum Foundation account.
But Pi is more than that, looking to become a payment system once it hits its full launch.
Yet, that’s the question that lingers in the minds of many: the Pi Network launch date, when the ecosystem moves from a closed, beta ecosystem into an open network that can be used across exchanges and other blockchains.
The Pi Network team has officially declared their plans to initiate the Open Mainnet phase in 2024, and is expected between March and June. In a December 27 blog post, the team added that the Open Mainnet phase is poised to unlock the Pi blockchain’s full potential.
They said that this stage will empower Pi users to seamlessly exchange their Pi coins with other cryptocurrencies and fiat currencies. Furthermore, it opens the door for developers to innovate, creating utilities and applications atop the network’s robust framework.
Pi Network shares progress toward open mainnet launchIn a blog post titled "Pi Day 2024: The Pi Ecosystem Coming Together", the Pi Core Team provided updates on where the network stands concerning the three key conditions it published must be met for an Open Mainnet launch in 2024.